Monthly Archives: May 2022
Benefits Of Chapter 7 Bankruptcy
When you are considering the possibility of filing for bankruptcy, either as an individual or business, you may be looking at different types of bankruptcy and wondering about your eligibility and the specific benefits that come with a bankruptcy filing. Chapter 7 bankruptcy is a type of bankruptcy that both individual debtors and businesses… Read More »
Benefits Of A Reorganization Bankruptcy
Both Chapter 11 bankruptcy and Chapter 13 bankruptcy are types of “reorganization” bankruptcy that allow debtors to reorganize debts and to make payments to creditors over the course of an extended period of time. Chapter 11 is a type of reorganization bankruptcy that is often used by businesses, although individuals can also file for… Read More »
Bankruptcy Statistics And The Effects Of The Pandemic
In the early months of the COVID-19 pandemic, many consumer protection advocates voiced concerns about how the pandemic—and associated job losses and medical bills—could result in a steep rise in consumer bankruptcy cases. Commentators also considered whether small businesses were likely to close their doors permanently or file for Chapter 7 bankruptcy or Chapter… Read More »
What Is The Connection Between Bankruptcy And Stopping Foreclosure?
Bankruptcy and foreclosure are often discussed together when a person is struggling with debt, which is frequently due to the fact that the debtor is having difficulty making mortgage payments in addition to owing other debts and thus may be facing foreclosure. Under U.S. bankruptcy law, depending upon the type of bankruptcy you file,… Read More »
Creditor Harassment And Bankruptcy: What You Should Know
Can filing for bankruptcy stop creditors from harassing you? Do you have any protections against creditor harassment before you file for bankruptcy? Can creditors try to contact you about debts that were discharged in your bankruptcy case? These are some of the questions we commonly receive concerning creditor harassment, personal bankruptcy, and consumer rights…. Read More »
Is Chapter 11 Bankruptcy For Businesses Or Individuals?
If you are a business owner and want to file for reorganization bankruptcy so that you can reorganize debts while keeping your business open, you will likely be planning to file for Chapter 11 bankruptcy. Yet in some instances, you might have heard about individuals who filed for Chapter 11 bankruptcy even though Chapter… Read More »
Can You Negotiate With Your Creditors?
You are in debt, and you are considering bankruptcy. But then a thought occurs to you: Why file for bankruptcy? Couldn’t you just call your creditors and negotiate with them? The answer is that you can—although that isn’t as easy as it sounds, and it isn’t always the best idea. Will Creditors Negotiate? The… Read More »
Bankruptcy Considerations When You Are Closing Your Business
Your business is failing, or has failed. You know it’s time to wind down your affairs, given that the business is not only not profitable, but has also incurred a fair amount of debt that neither you nor the business can afford to pay. But how do you wind down your business—especially if you… Read More »
What Doesn’t The Automatic Stay Stop?
When you file for bankruptcy, an automatic stay will immediately be in effect. This is a powerful advantage for bankruptcy filers. The automatic stay stops any and all collection efforts against you. That includes everything from collections lawsuits, to calls, to letters–absolutely anything that could take your money or property, or which is an… Read More »
Legal Considerations When Buying A Business
If you’re buying a business, congratulations are in order. This is a big decision, and hopefully, a great start to a new and productive financial future for you. But buying a business doesn’t involve only business decisions. It also involves a lot of legal considerations as well. What are You Buying? The first consideration… Read More »
